We are one of the premier Christian tax experts in the US and have over 200 years of direct tax experience & over 100 years of working directly for the IRS. <><
The way of a fool is right in his own eyes, but a wise man listens to advice.
Proverbs 11:14 when
Where there is no guidance, a people falls, but in an abundance of counselors there is safety.
The day finally comes that you know it was going to happen when you actually receive an IRS tax bill, letter or notice.
So what is the next step?
One of the first things you want to do is to examine the IRS tax bill, letter or notice to make sure the information being reported to you by the IRS is accurate and correct.
IRS all the time does not have the right records.
Approximately 15% of all letters are accurate for very reasons.
So the first step is to pull out your tax return and examine the IRS letter, notice or bill to make sure that what the IRS is saying is correct.
If it’s not correct you should send a certified letter, and always make sure it’s certified back to IRS identifying the problems with your records pointing out what the confusion is with the IRS letter you have just received.
If you have a tax practitioner, CPA it’s best to take the information to them to match up your records against the IRS tax bill notice or letter. You must always start with your records first.
You always want to make sure you follow-up on the correspondence and if you do not hear back within a 30 day period it is absolutely necessary for you to call the IRS and stay on top of this.
If you cannot get through to IRS because of call log back jams continue to call, do not leave this alone because it’s not going to go away.
One of the frustrating elements of dealing with IRS as you may’s speak to two or three people just to resolve this plus you always have the IRS tax advocate if it gets out of hand.
What to do if the liability is correct and you owe back taxes.
When you IRS back taxes you have different options to satisfy IRS, get them off your back.
The four ways to deal with IRS is through an:
1. installment or payment arrangement,
2.applying for a currently non-collectible or hardship program,
3.the filing of the offer in compromise or,
4.the expiration of the statute of limitations.
The IRS installment payment agreement.
The Internal Revenue Service accepts 6.5 million payment agreements every year. Some you can get online and others you have to call IRS and submit a current financial statement along with documentation.
IRS will look at the principal amount you owe, your monthly income and expenses, the life of the statute, and your ability to pay back IRS based on your current financial statement. When you call us we will review the different options you have and see which of the programs you qualify for to pay off your IRS tax bill.
Applying for the currently not collectible a hardship program.
About 40% of all cases in the IRS collection cases wind up in the collection Q as currently non-collectible or hardship mode because taxpayers are businesses simply cannot pay their bills at the current time.
Before your case gets put in this mode IRS will need a current financial statement to verify income, expenses and will also require a financial statement in which IRS will require bank statements, pay stubs, copies of all expenses to make sure you have completed an honest financial statement.
Depending on where the case is worked, the IRS will ask for 433A, or 433F.
RECORD REQUIREMENTS. IRS may ask for the last three months, the last six months or in some cases they may want an average of the last year before they place you in hardship. A quick note about IRS hardships or non-collectible cases, the penalties and interest still run and the IRS will review the case and anywhere between one and three years.
If your case is placed in non-collectible or hardship, you must keep current on your tax filings and payments for the future years, if not IRS will default the hardship program and can kick the case out to be reworked and you can expect IRS to be much tougher than the first time around.
The filing of the offer in compromise.
IRS accepts about 32,000 offers in compromise each and every year. The average settlement is $9500.
Don’t let the $9500 deceive you because it’s just an average settlement.
Some cases settle for $1 million in some cases settle for $1000. IRS has very specific standards that they use for the acceptance of an offer in compromise and you should seek the help of a true tax professional in filing the offer.
You want to make sure you’re a true qualified candidate before you give your money to any tax firm. I was a former IRS agent and teaching instructor of the offer in compromise when formerly employed by my former boss.
The expiration of the statute of limitations.
IRS has generally a 10 year rule from the date of the assessment in which the statute of limitation expires.
There are three or four different events that can trigger the continuation of the statute of limitations. If your statute has run after the 10 year date your case, the tax debt is permanently dropped from IRS records and no further money is owed to the Internal Revenue Service.
You can find the statute of limitations by ordering an IRS tax transcript and finding out how close you are to the IRS dropping your case off the system.
If you have any questions call us today for a free initial tax consultation and we will walk you through the process.
Christian IRS Tax Relief Company + What to Do If You Received a IRS Notice, IRS Letter, IRS Tax Bill